Mangalam Drugs And Organics Limited has informed the Exchange regarding Proceedings of Court Convened General Meeting held on August 12, 2025
MANGALAM · price
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Awaiting price reaction for this filing.
Mangalam Drugs and Organics Limited held a Tribunal Convened Meeting (TCM) of its Unsecured Creditors on August 12, 2025, via video conferencing, as directed by the NCLT Mumbai Bench under an order dated June 30, 2025. The meeting ran from 11:05 AM to 11:27 AM and was convened to seek unsecured creditors' approval for a Scheme of Merger by Absorption of Mangalam Laboratories Private Limited and Shri B Pharma Private Limited into Mangalam Drugs and Organics Limited, under Sections 230-232 of the Companies Act, 2013. Directors, the CFO, statutory and internal auditors, and the NCLT-appointed scrutinizer were present. Creditors were offered remote e-voting and e-voting during the meeting via NSDL; voting results are awaited and will be submitted to stock exchanges within prescribed timelines.
This is a procedural step in the company's ongoing merger scheme rather than a new development affecting stock price. Shareholders should await the scrutinizer's report to confirm whether unsecured creditors have approved the merger, which is a key milestone before the scheme can move toward final NCLT sanction.